Aspiriant LLC Lowers Stock Holdings in Elastic (NYSE:ESTC)

Aspiriant LLC reduced its stake in Elastic (NYSE:ESTC) by 29.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,186 shares of the company’s stock after selling 1,314 shares during the quarter. Aspiriant LLC’s holdings in Elastic were worth $245,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Asset Dedication LLC boosted its holdings in Elastic by 1,333.3% in the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after acquiring an additional 280 shares in the last quarter. AlphaCentric Advisors LLC bought a new position in Elastic in the 2nd quarter worth about $40,000. Quarry LP purchased a new stake in Elastic during the 2nd quarter valued at about $40,000. Lynx Investment Advisory bought a new stake in Elastic during the 2nd quarter valued at about $43,000. Finally, Signaturefd LLC raised its holdings in Elastic by 44.1% in the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after buying an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Transactions at Elastic

In related news, Director Paul R. Auvil III bought 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $74.25 per share, with a total value of $1,485,000.00. Following the completion of the purchase, the director now owns 22,627 shares of the company’s stock, valued at approximately $1,680,054.75. The trade was a 700.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Paul R. Auvil III purchased 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $74.25 per share, with a total value of $1,485,000.00. Following the completion of the purchase, the director now owns 22,627 shares in the company, valued at approximately $1,680,054.75. This represents a 700.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Janesh Moorjani sold 6,941 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $487,605.25. Following the transaction, the chief financial officer now owns 195,550 shares of the company’s stock, valued at $13,737,387.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,406 shares of company stock valued at $2,627,772. 18.10% of the stock is currently owned by corporate insiders.

Elastic Trading Down 0.9 %

Elastic stock opened at $81.60 on Friday. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 154.28 and a beta of 0.94. The firm has a 50 day moving average of $85.75 and a 200 day moving average of $99.80. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. The firm had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.35) earnings per share. As a group, research analysts predict that Elastic will post -0.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Oppenheimer reduced their price target on shares of Elastic from $150.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. DA Davidson reduced their target price on Elastic from $100.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, August 30th. Jefferies Financial Group lowered their price target on Elastic from $140.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Robert W. Baird cut Elastic from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $135.00 to $95.00 in a research report on Friday, August 30th. Finally, Scotiabank decreased their target price on Elastic from $135.00 to $92.00 and set a “sector outperform” rating for the company in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.71.

About Elastic

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.